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PSCU Financial Services helps CUs on overdraft opt-in

ST. PETERSBURG, Fla. (3/30/10)--PSCU Financial Services launched a new Reg E-Overdraft Opt-In service with CUInitiative that provides member contact options to help credit unions obtain the required overdraft opt-in from members. Credit unions are required to obtain the opt-ins to comply with a new overdraft regulation, Regulation E, effective July 1. The service is available to any credit union. CUInitiative aims to help gain maximum enrollment from members for services cost effectively. “Our new service will help credit unions comply with the new amendments that require opt-in authorization from each share draft member before charging an overdraft fee caused by a one-time debit transaction or ATM withdrawal,” said David J. Serlo, president, PSCU Financial Services. “We offer member contact options that help explain the new requirements to accountholders and obtain overdraft authorization.” Credit unions can select activities from options including: a customized digital message that gives instructions for overdraft protection; a scripted outbound call from a Total Member Care professional that shows the credit union name on caller ID; and an interactive voice response with an introductory message and toll-free number that allows members to provide opt-in authorization. PSCU Financial Services also can provide credit unions with a toll-free number their members can call for answers to frequently asked questions about the new overdraft requirement. PSCU Financial services, a credit union service organization, is based in St. Petersburg, Fla.